Cleveland-Cliffs Reports First-Quarter 2024 Results and Announces New $1.5 Billion Share Repurchase Program [Yahoo! Finance]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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US:NYSE Investor Relations:
clevelandcliffs.com/investors/overview/default.aspx
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Source: Yahoo! Finance
First Quarter 2024 Highlights Repurchased 30.4 million shares, or 6% of total outstanding Revenues of $5.2 billion Steel shipments of 3.9 million net tons GAAP net loss of $53 million and adjusted net income of $87 million Adjusted EPS of $0.18 per diluted share Adjusted EBITDA of $414 million 70% Adjusted EBITDA improvement year-over-year and 48% increase quarter-over-quarter Liquidity of $4.0 billion as of March 31, 2024 Retired all remaining secured notes First-quarter 2024 revenues were $5.2 billion, compared to $5.1 billion in the fourth quarter of 2023. For the first quarter of 2024, the Company recorded a net loss of $53 million, or $0.14 per diluted share, with adjusted net income of $87 million, or $0.18 per diluted share. Included in the results were charges and losses totaling $202 million primarily related to the indefinite idle of the Weirton tinplate facility and loss on extinguishment of debt. This compares to a fourth quarter 2023 net loss of $13
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CLF
News
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at Morgan Stanley from $20.00 to $19.00. They now have an "equal weight" rating on the stock.MarketBeat
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at B. Riley from $25.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Norfolk Activist Wins Support From Glass Lewis for CEO Ouster [BNN Bloomberg (Canada)]BNN Bloomberg
- UPDATE 1-Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 5/3/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- CLF's page on the SEC website